KG&L Capital Management LLC Increases Stake in TD SYNNEX Co. (NYSE:SNX)

KG&L Capital Management LLC grew its position in TD SYNNEX Co. (NYSE:SNX) by 170.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,520 shares of the business services provider’s stock after purchasing an additional 4,105 shares during the quarter. KG&L Capital Management LLC’s holdings in TD SYNNEX were worth $765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Highland Capital Management LLC lifted its position in TD SYNNEX by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 116 shares in the last quarter. Foster & Motley Inc. grew its position in TD SYNNEX by 17.6% during the fourth quarter. Foster & Motley Inc. now owns 22,108 shares of the business services provider’s stock valued at $2,593,000 after buying an additional 3,302 shares during the period. R Squared Ltd bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $120,000. Foundations Investment Advisors LLC increased its position in TD SYNNEX by 9.8% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,934 shares of the business services provider’s stock worth $227,000 after buying an additional 172 shares in the last quarter. Finally, KBC Group NV increased its holdings in TD SYNNEX by 52.8% in the 4th quarter. KBC Group NV now owns 6,988 shares of the business services provider’s stock worth $820,000 after acquiring an additional 2,415 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNX. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Wednesday, January 15th. Barclays lifted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $144.38.

Insider Buying and Selling at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,715 shares of company stock worth $3,433,500 over the last ninety days. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Up 0.5 %

NYSE SNX opened at $142.61 on Friday. The company has a market capitalization of $12.07 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.05 and a beta of 1.46. The stock has a 50 day moving average price of $126.35 and a 200-day moving average price of $120.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a one year low of $98.70 and a one year high of $144.18.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.23%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio is currently 22.11%.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.